Could the market be bouncing back? In its seventh year, CMP’s top brokers list received a record number of submissions and, more impressively, an increase in funded volumes.
It took a few years, but Collin Bruce has finally made his way to the top of the mountain and captured the No. 1 spot on CMP’s Top 75 Brokers list after being in the Top Five each of the last three years.
The broker-owner of DLC Mortgage Mentors in Edmonton cracked the $200 million mark in funded volume for the second year in a row with $258,615,820 in 2013. And he continues to grow his business year after year without the help of rate sites.
Q&A WITH NO. 1
CMP: What is your No. 1 marketing technique that you credit the most for building your business?
: I use a number of different kinds of advertising. TV, radio, real estate publications, Internet, brokerage contests, etc. I think it is a combination of them all. When a client sees me on TV and then hears me on the radio the next day and then goes online to look at houses and sees me there, it is so effective. The advertising becomes a warm lead. I could be the worst mortgage broker in the world, but because of all the advertising we do, it legitimizes our business, especially when we are competing with a bank. The multiple streams of advertising helps make the typical bank client more comfortable using a broker because they see us everywhere
CMP: To what do you attribute to your growing success?
Our total volume increased 25 per cent the previous year. I brought on a few more key salaried people on my team who have made a huge impact on the business. We are better able to service our clients and spend more one-on-one time. This has translated into more repeat and referral clients. Guaranteed if it wasn’t for the quality of people on my team, I would not be at this volume. Plus I am very confident in knowing our clients are being treated well and are being put into mortgage products that are the best for them. The other reason for the increase in repeat and referrals is just in my own personal business cycle. A lot of our previous clients are either refinancing or upgrading their homes and as long as we continue to deliver great customer service, I expect this part of my business to continue to grow.
CMP: Is there one single opportunity brokers are letting slip through their fingers?
I was at the DLC conference in New Orleans this past year and had the opportunity to listen to Darren Hardy. I loved his presentation. He let everyone know the big secret on how to succeed in work /health / life was “Hard Frickin Work!” And I believe it. I don’t see any single opportunity that brokers are letting slip through their fingers. But I do see a lot of brokers who don’t realize how much work it takes to be in the Top 75. If you want to be successful at mortgage brokering you have to work at it, and work at it some more.
CMP: Which product was your best performer this year?
We have done really well marketing to first-time home buyers with flex down payments. The banks do not have this product available so we do get a lot of calls on this product. When it comes down to it, we actually do not do a lot of flex down mortgages. Clients don’t realize that you can use RRSP’s or a gift from a relative, etc. for down payment. But this is a really effective way to get the phones to ring.
For the complete report, please check out the CMP's Top 75 Brokers issue